Deutsche Telekom, Centerbridge eye betting group Tipico: sources

April 12, 2016 1:37 PM

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FRANKFURT Buyout group Centerbridge has tied up with Deutsche Telekom (DTEGn.DE) to bid for Tipico as an auction of Germany's largest private sports betting group nears the end, two people familiar with the matter said.

According to the sources, the German telecoms bellwether aims to take a minority stake in privately-held Tipico as it seeks to expand revenue streams outside its traditional business, while Centerbridge would buy the majority.